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“Things are moving in cycles [in Montenegro], as in most parts of the Balkans,“ says Partner Sasa Vujacic of Vujacic Law Offices. “This is an election year in Montenegro and that will be reflected on the business sector for sure, as we approach election day.“ Vujacic reports that the election date “should be no later than October of this year“ and says that, although more political influence will be felt in all sectors of business as it approaches, “not a lot of changes in Montenegro's political structure are to be expected."

Read more: The Buzz in Montenegro: Interview with Sasa Vujacic of Vujacic Law Offices

The transportation sector is one of the most important factors for a country’s progress. Montenegro’s transportation sector has been transforming over the past few years towards the goal of harmonizing its infrastructure and services with European Union regulations. The Transportation Development Strategy of Montenegro for 2019-2035 (the “Strategy”) was adopted to regulate the guidelines and plans for future projects as well as to present the current state of the transportation sector in Montenegro. The Strategy aims to improve transportation in Montenegro and thus significantly enhance both tourism and business.

Read more: The Current Status of Montenegro’s Transportation Sector

Claims from Loan Agreements are generally secured by establishing a mortgage over a certain property on the basis of a Mortgage Agreement or a Pledge Statement.

Read more: Mortgage Extension with Special Reference to the Montenegrin Supreme Court’s Legal Position

In addition to their traditional role guiding companies through legal and regulatory waters and managing disputes, General Counsels are increasingly called upon to provide input on strategic matters. An expert panel at the second annual Balkan GC Summit considered how this change in the nature of the General Counsel role is manifesting itself in the countries of the former Yugoslavia.

Read more: General Counsel as Business Advisors in the Balkans

In Montenegro, it is not possible to open any corporate bank account for companies registered in Montenegro if the founder of such company is a legal entity / company from an offshore destination as it is for example British Virgin Islands etc.

Read more: New Restrictions on Opening Bank Accounts for Companies Founded by Legal Entities from Offshore...

A recent report found that, in 2018, 72.2% of Montenegrin citizens had online access from home, with Internet access via mobile phones increasingly common as well. In terms of mobile and Internet service, Montenegro is not behind other countries from the region or Europe at large, but digital technologies are used far less in areas such as economy or education. Information technologies are most commonly used for Internet browsing and social network communication, but are rarely used for communication with public administrations, local governments, and other service providers, which indicates the society’s insufficient digital advancement.

Read more: Montenegro’s Harmonization with EU’s Digitalization Standards

Doklestic Repic & Gajin has announced the establishment of Lex Adria, an alliance of independent law firms in the Adriatic region, to provide what the firm calls “seamless and premium legal support across the area.”

Read more: Firms in Former Yugoslavia Form Lex Adria Law Firm Alliance

Jones Day has advised Societe Generale in connection with the sale of its majority stake in the share capital of Societe Generale Montenegro, a company listed on the Montenegrin Stock Exchange, to OTP Bank Nyrt. Schoenherr advised Societe Generale on matters of Montenegrin law, while CMS advised OTP.

Read more: Jones Day, Schoenherr, and CMS Advise on Sale of Majority Stake in Societe Generale Montenegro to...

The Government of Montenegro, at the session of February 7, 2019, passed Decision about The Privatization Plan for 2019 which is published in the Official Gazette No. 013/19 of 01, March 2019 and it came into force on 9, April of the same year.

Read more: Decision on Privatization Plan for 2019 has been published in the Official Gazette No. 013/19 of...

Even though Montenegro, located in Southeastern Europe on the Adriatic Coast and with a population of just over 600 thousand people, is a small country, its vast energy potential has been recognized by numerous international investors and by the Montenegrin Government.

Read more: Energy in Montenegro

While current affairs seem to be stable in Montenegro, according to Tripkovic & Raicevic Founding Partner Pavle Tripkovic, the recent bankruptcies of Invest Bank of Montenegro and Atlas Bank have alarmed the local banking market.

Read more: The Buzz in Montenegro: Interview with Pavle Tripkovic of Tripkovic & Raicevic

Law firm members of the SEE Legal Group, acting on behalf of Netlog Logistics, have completed a due diligence analysis of the Intereuropa group of companies, upon the announcement of a banking consortium that it is selling 72% share capital in Intereuropa d.d.

Read more: SEE Legal Firms Provide Due Diligence of Intereuropa for Netlog Logistics

Kinstellar, Shearman & Sterling, and Radonjic Associates have advised Masdar on its acquisition of a 49% share in Krnovo Green Energy from a subsidiary of Akuo Energy. Cleary Gottlieb Steen & Hamilton and Karanovic & Partners advised Akuo Energy, while Allen & Overy acted as general counsel for the lenders.

Read more: Kinstellar, Karanovic & Partners, Radonjic Associates, and CGSH Advise on Masdar Acquisition of...
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